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20110701
20110731
Search Results 0 to 3 of about 4 (some duplicates have been removed)
. the power to solve this is in our hands. >> arthel: meanwhile, arizona senator jon kyl delivering the republican address. he is accusing democrats of using the debt crisis to raise taxes instead of viewing it as an opportunity to rein in spending. >> unfortunately, after weeks of negotiations, it became clear that democrats in washington did not view this crisis as an opportunity to rein in spending. instead, they saw it as an opportunity to impose huge tax increases on american families and small businesses. president obama is simply too committed to the european style of big government, that his policies have set in motion. to democrats in washington, the isn't to cut spending, but to raise taxes and keep on spending. democrats claim they would only target the privileged few, but behind the scenes, they argue for much broader tax increases. >> arthel: it looks like we may be hearing from senator reid very soon. in the meantime, the senate is expected to vote early sunday morning to cut off debate on its own debt ceiling plan. rick? >> rick: just as advertised, senator harry reid
ceiling. here is senator jon kyl's take on where things on. >> three months ago the president insisted on a clean debt ceiling extension. clearly we will have a significant amount of spending reductions in this proposal. the second thing was he insisted on revenues as he called them. tax increases. there will not be tax increases in this proposal. >> bottom line, the most liberal members are not going to be happy with the details they hear. some of the tea party folks will not be happy with the details they hear but they are trying to find a compromise and obviously the clock is ticking. >> shannon: thank you very much. what does happen if the nation fails to raise the debt ceiling by the deadline on tuesday? nobody really knows for sure. most experts agree the country may not have enough money to pay all of its bills and that means $23 billion of social security checks set to go out on wednesday could be in jeopardy. bondholders will still get paid but that will come at the expense of unemployment, medicaid and defense spending. and you are looking live at the senate floor. a cloture
Search Results 0 to 3 of about 4 (some duplicates have been removed)